Search Documents

By FRABK HERVEY PETTINGELL

THE stock exchange and its functions is about as well understood by the average individual as the fourth dimension. What is a stock exchange? Divested of the rules and regulations by which it is governed, and the facilities it provides for the convenient handling of securities, it would be in its nude state nothing more or less than a meeting place for brokers. The stock exchange in America dates back to 1752, when a group of merchants of New York established a meeting place at the foot of Broad Street for the purpose of dealing in meal and slaves. The first definite orgarization, however, had its beginning in 1792 when 24 New York brokers signed an agreement not to buy or sell public stock for less than one quarter per cent. commission. From this small group has grown by gradual degrees, the greatest organized security market in the world, namely, the New York Stock Exchange. At the present time there are 27 stock exchanges in the United States and 5 in Canada. Based on the volume of business transacted, the Los Angeles Stock Exchange ranks 6th among them. This is attributable to the fact that strictly speaking Los Angeles has never been a stock exchange town, like some other large cities. Take for instance San Francisco, which supported one stock exchange from 1862 to .1882 and has since supported two. No city, by the way, should tolerate two stock exchanges at the same time. It is an economic folly and a senseless duplication that can be compared with rival telephone companies or competing street railway systems, paralleling each other's lines and always leads to trouble and confusion, and sooner or later one or the other falls by the wayside. While Los Angeles has had stock exchanges of one kind or another since 1896, none of them attracted much attention until 1899 when the present exchange was organized and it did not get well under way until along in 1906.

Jan 1, 1925

By Joan Weinberg

Real output expanded at a 3.0% rate worldwide in 1987, a slightly lower pace than the 3.2% rate in 1986. The decline was accounted for largely by slower growth in the U.S.S.R. and the East European countries, as well as in the developing countries (table 1). According to the International Monetary Fund, output of industrial countries output grew 3.1% and rose most strongly in Japan, the United Kingdom, and Canada (table 2). U.S. economic growth remained at 2.9%, the same as in 1986. Consumer and government spending declined in industrial countries, while gross fixed investment: rent increased. This increase in fixed investment expenditures could be attributed partly to lagged results of some 1986 developments: the fall in oil prices, declining interest rates, and exchange rate changes. The U.S. budget deficit, as well as the large external deficits and surpluses among major industrial countries, hindered further growth .2 A report from the Organization for Economic Cooperation and Development (OECD) indicates that the impact of the October stock market crash was short-lived because it hit economies that were growing strongly, anyway.3 The growth of output in the developing countries slowed in 1987; however, output declined in the fuel-exporting developing countries. These countries have been adversely affected by weakness in oil prices and the depreciation of the U.S. dollar. The weighted average of inflation rates in industrial countries--as measured by the [ ] GNP deflator, was 2.9% in 1987, down from 3.4% in 1986. Prices rose 3.0% in the United States, up from 2.6% the previous year. Inflation for 1988 is expected to remain slightly higher in the United States than in Japan and the Federal Republic of Germany because of recent exchange rates changes and the elimination of slack productive capacity and labor in the U.S. economy. Prices in developing countries as a whole rose more than 10 percentage points in 1987. Higher import prices, caused by

Jan 1, 1988

By Wendell L. Reich

Percussion drilling dates back to the hand operated star drill and hammer. Eventually steam and compressed air were substituted for muscle power and the mechanical percussion drill was born. From the hand held jack hammers, driving a forged steel bit into the rock, there evolved the jack leg, the rubber tired and crawler mounted drill carrier with automatic feed, increasing power and reducing man?s muscle requirements. Because the reaction of a blow on one end of a piece of steel has to be transmitted to the other end there is a limit to the depth or length of drill steel that can economically be used in out of the hole percussion devices. During the late 1800?s there is evidence that designers were attempting to put the percussion tool at the bottom of the hole, directly on the bit, in order to avoid the long drill steel which absorbed much of the blow, leaving little to be applied to the bit and the rock being drilled.

Jan 1, 1972

By Frank D. Shepherd

THE Gunnar Gold Mines property is on the west shore of Beresford lake, in the Rice Lake mining division, southeastern Manitoba. Gold was first discovered in place in the Rice-Beresford Lakes area in 1911 on the Gabrielle claim, now included in the San Antonio Mines property at Rice lake. Following an eastward trend of favourable prospecting ground, promising showings were next staked in the vicinity of Long lake during the years 1915 and 1916. At that time, William Walton and associates, among them Gilbert LaBine, staked the Eldorado vein, north of Long lake, and Eldorado Gold Mines, Limited, was formed to develop the property a Company that, later, was to become widely known through successful operation of its radium-silver mine at Great Bear lake, Northwest Territories. Continuing eastward from Long lake, Walton and his partners, Gunnar Berg, Leo Seaberg, and Wm. Quesnel, staked claims during the years 1920-24 in the vicinity of Beresford lake which, later, were to become incorporated into the Gunnar Gold Mines property. The presence of gold-bearing quartz on these claims had been known from the time they were staked, but an opportunity to consolidate them into a group was not forth-coming until early in the year 1933. Although promising gold showings had been disclosed during the performance of assessment work on individual claims, no continuous mineralization having mine-making possibilities was discovered until after the consolidation of the entire group. From this stage onward, progress was rapid. Active exploration was begun on August 1st, 1933, and late in October James Houston reported favourably on the property. On October 27th, Gunnar Gold Mines, Limited, was incorporated in the Province of Ontario to develop and operate the property. The Company is also registered in Manitoba. The authorized capitalization is 3,000,000 shares of $1.00 par value. Gilbert LaBine was appointed president of the Company, with James Houston as mine manager. Following completion of a diamond-drilling programme, planned in 1933, it was decided to install a mine plant capable of carrying development to a depth of 1,000 feet. A transmission line, 5 miles in length, was built to the Great Falls-Central Manitoba line of the Manitoba Power Company, Limited.

Jan 1, 1939

By A. Torrance

A better understanding of the detonation performance of an explosive charge can be gained by directly measuring pressure, temperature and velocity of detonation (VOD). This is particularly important with commercial explosives because their performance is directly influenced by the degree of confinement given by the borehole diameter and the surrounding rock mass. A project funded by the Australian Coal Association Research Program (ACARP) was initiated in early 2009 with the view to design and build cost effective prototype instrumentation to measure the relative differences in detonation pressures and temperatures of commercial mining explosives. The project’s primary focus was on low density explosives. Low density (also referred to as low shock) explosives have been available in various forms for nearly 20 years. Identifying the pressure release patterns of both conventional and low density explosives under different geotechnical conditions should provide the necessary information to both validate detonation codes and better define input parameters for breakage and fragmentation models. This paper gives a general description of the prototype instrumentation developed and reports on the results obtained to date in testing the proposed instrumentation in laboratory scale conditions.

Jan 1, 2011

By Edgar Peek

"The two dominant metallurgical problems in treating most base metal sulphide concentrates in both the chloride and sulphate system are iron removal and sulphur elimination, respectively [1-3]. In this paper the opportunities, limitations and fundamentals of the chloride metallurgy system are described against this background. Only the treatment of oxide and sulphide ores is considered. Both hydrometallurgical and pyrometallurgical unit process operations are highlighted, since most successful base metal processes are based on a combination of the two. Hence, an overview of the technical and also some economical aspects of chloride metallurgy are presented.This overview summarizes the successful applications of chloride metallurgy, but it will not give exhaustive process and plant descriptions. It predominantly focuses on the essential technical features of the metallurgical unit process operations, while providing numerous references separately."

Jan 1, 2011

By Terrence J. Stobbe

The authors investigated the nature, cause and treatment of 234 back injuries which occurred in 156 different situations in underground coal mines. A detailed interview was conducted with each injured miner as 137 variables were explored to provide a complete picture of the injury scenario. The miners worked at 23 mines in six states. An important finding of the study was that sudden movement, which occurred in 527 of the injuries, is a more frequent factor than heavy lifting in causing hack injuries. Along with sudden movement, other major injury causing factors were equipment seat design, lifting, cable handling, and slips/trips. No significant differences were found between the injury scenarios associated with lost time and non-lost time injuries; thus, both sets of scenarios should he used in doe loping back injury control strategies. Medical treatment and rehabilitation varied in content and quality. Dialogue between the medical, rehabilitation and mining communities is needed to develop an effective treatment strategy. Back injury control related training was found to be inadequate in most mines. Mine specific training for physical stress recognition and potential sudden torte release should he added to the training currently given. Based on the information collected in this study, recommendations were made regarding equipment design, mechanical assists and procedures for material handling, training, etc., which, if implemented, will assist in reducing the frequency of back injuries in underground coal mining.

Jan 1, 1989

By E. G. Dahlgren, Dan O. Howard

THE West Edmond oil field, which covers parts of Oklahoma, Canadian, Kingfisher, and Logan Counties in the State of Oklahoma, is in geographical extent the largest single oil field found in the state. At the present time, its area of 26,800 acres is almost twice as large as the Oklahoma City field, which hitherto was the state's largest field. Many authorities believe that the West Edmond field is the most important oil pool found in the United States since Pearl Harbor. The discovery of the field without the help of geological, geophysical, or other recognized technical information, the fact that the oil and gas accumulated in a stratigraphic or wedge-type trap, and the rapid development of the productive area under wartime conditions are some of the interesting features of the field. The West Edmond field lies west of the Oklahoma City, Britton, and Edmond fields. The field is in an area that has been considered on the west flank of the Granite Ridge line of folding, on which a number of Central Oklahoma's most important oil fields are located. Over a period of years, especially since the discovery of the new pools such as Oklahoma City, Edmond, Britton, and Crescent, the general area of the West Edmond field has been explored intensively by geological and geophysical methods. This led at times to the drilling of a few dry Wilcox sand tests.

Jan 1, 1945

By Orlando Martino

This regional report covers the mineral industries of Canada and 40 countries and areas in Latin America and the Caribbean Basin. Also included is a brief description of the mineral potential of Antarctica. The Latin American region encompasses an area twice that of the United States. Latin America and Canada have a rich and diversified endowment of mineral fuels, metals, and industrial minerals. Tables 1 and 2 provide a summary view of Latin America and Canada's output of its major mineral commodities in world mineral supply in 1990 and 1991. Table 3 shows the relative importance of a selected group of minerals produced in Latin America in the world mineral economy.

Jan 1, 1993

The following is an incomplete list of members and guests who called at Institute headquarters during the period Feb. 10, 1919, to Mar. 10, 1919. R. H. Allport, Cleveland, Ohio. R. R. Landon, Philippine Islands. I. H. Bergstein, New York. Alfred 0. Law, Cambridge, Mass. Capt. R. S. Burdette, San Antonio, Tex. James M. Little, Towanda, Pa. William R. Chedsey, State College, Pa. F. E. Marcy, Salt Lake City, Utah. L. R. Clapp, Philadelphia, Pa. H. F. Nash, Bartlesville, Okla. J. Murray Clark. L. S. Panyity, Columbus, Ohio. E. H. Claussen, San Francisco, Calif. W. C. Ralston, Reno, Nev. George E. Collins, -Denver, Colo. T. A. Rickard, San Francisco, Calif. George L. Collord, Sharpsville, Pa.. W. A. Rigby, Mt, Vernon, Iowa. William M. Corse, Mansfield, Ohio. H. H. Rowatt, Ottawa. Frank R. Crampton, Los Angeles, Calif. P. H. Royster, Pittsburgh, Pa. Capt. E. 0. Daue. Alan B. Sanger, Dorchester, Mass. A. E. Eddy, Butte, Mont. J. S. Shaw, Pittsburgh, Pa. N. H. Emmons, 2d, Lynchburg, Va. S. B. Shutts, Lynchburg, Va. E. W. Engelmann, Hayden, Ariz. Henry B. Smith, New Britain, Conn. F. A. Fahrenwald, Cleveland, Ohio. W. C. Smith, Roselle, N. J. 0. S. Finnie, Ottawa. Harry M. Spoor. John T. Fuller, Honesdale, Pa. D. M. Stackhouse, Johnstown, Pa. Major C. C. Griggs, Eureka, Utah. F. D. Stay,. Cleveland, Ohio. H. F. E. Gamm, Rutherford, N. J. D. B. Sterrett, St. Cyr, Que. A. W. Hackwood, Butte, Mont. R. H. Thayer, Yonkers, N. Y. C. L. Horne, Roanoke, Va. Kirby Thomas,. New York. B. B. Hood, Chrome, N. J. Henry Traphagen, Toledo, Ohio. R. E. Hore, Toronto Ont. H. D. Trounce, San Diego, Calif. Ross B. Hoffmann, Oakland, Calif. Henry J. Volkin, Ossining, N. Y. G. A. Joslin, Salt Lake City, Utah.. A. T. Ward, Bellefonte, Pa. John Johnston, Washington, D. C. Major L. W. Wickes. Paul S. King, Wilmington, Del. Horace V. Winchell, Minneapolis, Minn. E. William Kohl, Jr., Philadelphia, Pa. Fred L. Wolf, Mansfield, Ohio. W. H. Landers, San Francisco; Calif. J. Carson Adkerson, of the Stockwood Realty Corpn., Inc., of Woodstock, Va., writes that they are discontinuing their operations in Virginia on account of the conditions in the manganese market following the end of the war.

Jan 4, 1919

In the spring of 1944 the Congress passed Public Law 290 (58 Stat. 190, 30 U. S. C. Sec. 321) "authorizing the construction and operation of demonstration plants to produce synthetic liquid fuels from coal, oil shales, agricultural and forestry products, and other substances, in order to aid the prosecution of the war, to conserve and increase the oil resources of the Nation, and for other purposes." Section 2 reads: "In order to carry out the :purpose of this act, the Secretary of the Interior is authorized- (a) to conduct laboratory research and development work, and, with pilot plants and semi-works plants, to make careful process engineering studies, along with structural engineering studies, in order to ascertain lowest investment and operating costs necessary to determine the best demonstration plant designs and conditions of operation;

Jan 1, 1948

By Carl H. Beal

The oil industry in the United States is further advanced than in any other country, because of American initiative and the development of industries dependent in some way on petroleum or its products. For this reason the output has constantly increased (fig. 1), and as a result this country has produced more than half of the total output of the world. Trw total past output of the world is approximately 7,000,000,000 barrels of 42 gallons each; of this the United States produced about 4,000,000,000 barrels, or about 57 per cent. The limit of production in this country is being approached, however, and although new fields undoubtedly await discovery, the yearly outpnt must inevitably decline, because the maintenance of a given output each year necessitates the drilling of an increasing number of wells. Such an increase becomes impossible after a certain point is reached, not only because of a lack of acreage to be drilled, but because of the great number of wells that will ultimately have to be drilled. According to figure 1, the daily production per well each year has increased during the last few years. However, this increase is abnormal, being caused by the new pools brought in. Although such a condition may continue for several years, the average production per well will finally begin to decrease on account of the lack of new pools to make up for the normal decline in production of the old ones.

Jan 1, 1919

By Joseph T. Singewald

The term "titaniferous magnetite" is used to designate those magnetic ores of iron that carry more than 2 or 3 per cent of titanium. Large and easily workable deposits of these ores occur in different parts of the world, and have attracted attention for many years. Under present furnace practice, however, the smelting of these ores is both difficult and expensive, and for that reason they are not accepted by furnaces, so that the deposits are practically worthless. The problem of finding a feasible method of utilizing these ores has naturally been attractive, and numerous attempts have been made to solve it. Experiments to that end embrace two lines of investigation. The one that has been the more frequently tried is the elimination of the titanium from the ores, so as to make possible their smelting in the usual way. The other is the devising of a method of smelting by which titaniferous ores may be reduced as economically as are non-titaniferous ores. The former method involves a physical process, the latter a chemical process.

Jan 1, 1913

By C. E. Julihn

In the fall of 1933 a new discovery of gold was made in the old Mojave mining district of California about 70 miles north of Los Angeles. It led to mining operations that have surpassed in their results all reasonable expectations and are of exceptional promise for the future. In less than 3 years, exploration has opened up a number of veins, from some of which a substantial amount of high-grade ore has been shipped, while a large tonnage of milling ore has been disclosed. Two mills, operating on ore averaging better than $12 a ton, will probably produce more than a million dollars worth of gold in 1936, and a considerable increase of their output in the following year is anticipated. While continuance of these operations for a number of years is already assured by ample reserves of ore, future discoveries of still other veins are reasonably possible, as occurrence of gold throughout the volcanic rocks of the district is widespread and the veins now being mined showed little to attract attention at the surface.

Jan 1, 1937

By AIME AIME

CERTAINLY in point of attendance, and doubtless in several other ways as well, the 147th meeting of the A.I.M.E. was the best ever held. In times of depression, mining engineers and metallurgists have plenty of time to come to the Annual Meeting but money is scarce; at the height of industrial activity they have plenty of money but no time. "The current period of transition seemed to provide ideal conditions for' both the preparation of papers and attendance at their presentation. The weather made even the Californians present envious though the weather man gets no credit, for rain and snow was what he willed. Among the elevator men, the miners have the reputation of being the toughest crowd to handle, though the best natured, withal, of all the engineering groups that meet in the Engineering Societies Building. This year Your inquiring reporter was told, "it was the damnedest meeting I ever saw; they

Jan 1, 1937

By P Card

Some project managers accept unsatisfactory economic evaluation modelling because they are unaware of what constitutes good practice. They tend to leave it to the evaluation specialist or others to decide. The AusIMM has published on its website a draft set of guidelines for technical economic evaluation which will allow these project managers to take control and demand worldÆs best practices.The style of the guidelines is described and the source of a worked spreadsheet example in Excel is given.Economic evaluation in project management is described. A simple test for the acceptance or rejection of evaluation work is offered. The nature of modelling and evaluation in each of the three study phases of concept, prefeasibility and final feasibility are described. Suggestions on the selection of specialists for each phase are given. The three levels of evaluation thinking are described, namely, modelling, valuation and evaluation. Finally the meaning of æfinancial analysisÆ is explained.The conclusion is that æthe role of an economic evaluation specialist is to create models and evaluations for the whole project team to readily understand and use: it is not to create models for his/her own useÆ.CITATION:Card, P, 2012. What project managers must demand from an economic evaluation!, in Proceedings Project Evaluation 2012 , pp 173-176 (The Australasian Institute of Mining and Metallurgy: Melbourne).

May 24, 2012

By A. F. Roberts

The subject of mine fires is a very wide one. To give reasonable coherency, the paper concentrates on the behaviour of fires in the ventilated airways of mines; spontaneous combustions are not considered. The following topics are considered in some detail: 1) Material selection: Performance requirements for mining materials in terms of flammability and smoke/fume production; methods of test and need for relevance to mining conditions. 2) Fire growth: The influence of material properties and method of use on the rate of growth of fire in a mine roadway; the influence of ventilation, slope, material orientation, proximity of walls and roof on fire behaviour. 3) The fire in the ventilation network: The influence of fire on the ventilation distribution; the circulation of fire products in the network. The influences of these topics in determining fire control strategy are then considered but topics such as fire detection and fire extinction methods are not reviewed in detail. An extensive Bibliography on papers relating to mine fires is included.

Jan 1, 1989

By S. H. E. Phillips

This report describes the initial feasibility, the development and the field demonstration of a system for shaft sinking employing a high energy mechanical impact rock breaker and a compatible muck disposal system. The increased shaft sinking rates, decreased costs and improved safety conditions obtainable by the elimination of the less efficient conventional drill-blast-muck cycles are discussed. Four shaft sinking concepts utilizing the impact rock breaker in various shaft configurations are developed and the field demonstration in a rectangular shaft is described. The progress achieved, the problems and their remedies and the proposed modifications to improve the machine are described.

Jan 1, 1978

By Angelina Anani, Nilufer K. B. Akbulut, Sefiu O. Adewuyi

Crucial information about safety, design, and operation can be utilized in underground mines from ground movement data. Communicating the information and exploring new findings can be a challenge in a decade where there is an ever-increasing volume and velocity of data due to advancements in mining technologies. This challenge escalates for geotechnical data as it is multidimensional, depending on the space and the rate it takes place. To tackle this challenge, geotechnical engineers should focus on utilizing simple yet compelling visualization of rock mass data in 3D. Competent visualizations of ground conditions as a Trigger Action and Response Plan (TARP) could ease the communication of safety concerns and the exploration of rock mass displacement and strain surrounding an opening at an underground mine. Therefore, this study focuses on using scientific visualization methods by rendering geotechnical data over the surface of a 3D mesh model to display TARP levels. The study is conducted at the San Xavier (SX) Underground Mine Laboratory’s East decline. The project aims to produce visualizations that optimize the use of geotechnical data in near-real-time.

Feb 1, 2025

By Thomas J. Fisher, John J. Sammarco, Gary L. Mowrey, Edward F. Fries

This report (Safety File 3.0) is the fourth in a nine-part series of recommendations addressing the functional safety of processor-controlled mining equipment. It is part of a risk-based system safety process encompassing hardware, software, humans, and the operating environment for the equipment’s life cycle. Figure 1 shows a safety framework containing these recommendations. The reports in this series address the various life cycle stages of inception, design, approval and certification, commissioning, operation, maintenance, and decommissioning. These recommendations were developed as a joint project between the National Institute for Occupational Safety and Health and the Mine Safety and Health Administration. They are intended for use by mining companies, original equipment manufacturers, and aftermarket suppliers to these mining companies. Users of these reports are expected to consider the set in total during the design cycle. • 1.0 Safety Introduction.—This is an introductory report for the general mining industry. It provides basic system/software safety concepts, discusses the need for mining to address the functional safety of programmable electronics (PE), and includes the benefits of implementing a system/software safety program. • 2.1 System Safety and 2.2 Software Safety.—These reports draw heavily from International Electrotechnical Commission (IEC) standard IEC 61508 [IEC 1998a,b,c,d,e,f,g] and other standards. The scope is “surface and underground safety-related mining systems employing embedded, networked, and nonnetworked programmable electronics.” System safety seeks to design safety into all phases of the entire system. Software is a subsystem; thus, software safety is a part of the system’s safety. • 3.0 Safety File.—This report contains the documentation that demonstrates the level of safety built into the system and identifies limitations for the system’s use and operation. In essence, it is a “proof of safety” that the system and its operation meet the appropriate level of safety for the intended application. It starts from the beginning of the design, is maintained during the full lifecycle of the system, and provides administrative support for the safety program of the full system. • 4.0 Safety Assessment.—The independent assessment of the safety file is addressed. It establishes consistent methods to determine the completeness and suitability of safety evidence and justifications. This assessment could be conducted by an independent third party. • 5.0 Safety Framework Guidance.—It is intended to supplement the safety framework reports with guidance providing users with additional information. The purpose is to assist users in applying the concepts presented. In other words, the safety framework is what needs to be done and the guidance is the how it can be done. The guidance information reinforces the concepts, describes various methodologies that can be used, and gives examples and references. It also gives information on the benefits and drawbacks of various methodologies. The guidance reports are not intended to promote a single methodology or to be an exhaustive treatment of the subject material. They provide information and references so that the user can more intelligently choose and implement the appropriate methodologies given the user’s application and capabilities. [ ]

Jan 5, 2002